When Two Becomes Eight – Quadrupling Rental Potential!
The smart way to build a Rental Portfolio
A client approached us seeking development options for a rental property of 1,012 sqm section that hosted two brick and tile units. After reviewing the site for its build feasibility, the Ashcroft team concluded that the two units could be replaced with eight new terraced homes! It was important to our client that any new dwellings would provide a comfortable and contemporary living environment for their eventual residents. Ashcroft’s Windsor Plan ticked all the boxes.
The client lives out of town so partnering with a company that could manage all aspects of the project from initial scheme plans, to council consents to construction was going to make life a lot easier. Despite the long distance relationship, great communication and sound processes have pathed the way for a smooth journey so far.
Our client is committed to creating an enviable development for this rental property, with a strong community feel. On completion, residents will enjoy beautifully landscaped grounds, secure gated entrances and niceties such as communal bike racks!
Council have approved all resource and building consents, and construction has begun – and very shortly, this client will be enjoying rental returns from eight properties, rather than two!
More Project Insights
Correct Plan Selection, Critical for Maximising Return
Our client, an experienced property developer purchased this property with the goal of development. The site contained a stand-alone home, a garage and a shed, on land of approx. 1,012sqm. The intention was to demolish the existing buildings, constructing new homes in their place.
Ashcroft’s lateral thinking delivers 50% more housing - and profit
Our client’s rental property was a four-bedroom home on an 800 m2 site. When changes to the Auckland Unitary Plan were introduced, zoning adjustments meant the property was now located in a Terraced Housing and Apartment Zone. This provided great development potential for this rental property.
Foresight and Resilience Brings Great Rewards for this Astute Developer
Our client purchased a duplex property in Otahuhu in 2013. While this was an ideal rental property, the site also had great development potential. Soon after purchase, our client approached the next door neighbour asking if they’d be willing to sell. They agreed.